Workers beat old security system to steal bank’s billions

[InfoSec News <alerts () infosecnews org>]

http://www.nation.co.ke/News/Workers-beat-old-security-system-to-steal-banks-billions--/-/1056/1928984/-/mfnkt7z/-/index.html

By ANDREW TEYIE
Daily Nation
July 27, 2013

The Central Bank of Kenya has been hit by a string of thefts in the last 
12 months where staff carted away cash in scenes resembling those in the 
movies.

A top CBK manager who did not want to be named because he is not 
authorised to speak to the Press, said the workers were taking advantage 
of the outdated security arrangements and the only way to curb the thefts 
was the installation of a new integrated security management system.

According to the manager, workers were getting bolder after discovering 
how to beat the old security system.

In October last year, a CBK worker, Mr James Gichuki Wambugu, was charged 
with stealing treasury bonds valued at Sh65.6 million. He denied the 
offence and was released on bond.

The top manager pointed out a case where staff stole close to Sh60 million 
defaced bank notes earmarked for destruction.

[...]



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